Jeremy Hunt has fired a warning to the country as he looks to get the economy in order after a chaotic three weeks in Parliament. The former Health Secretary and 2019 Conservative leadership hopeful was named Chancellor of the Exchequer by Liz Truss yesterday (October 14).
It followed a turbulent few weeks for the new Prime Minister and her Government, following her previous Chancellor's so-called 'mini-budget'. Kwasi Kwarteng's announcement on September 23 revealed a number of tax-cutting measures designed to get the economy growing.
But the measures - announced without details on how they would be funded - spooked the markets. The pound has been volatile, crashing moments after the announcement, before mortgage interest rates soared.
